Use the following information to answer bellow questions
Continue with the information used for questions . Thirty days after year-end, it is now 2021 and the market value of the inventory is $785,000. The company closes the futures contract and sells the inventory on the spot market for $785,000.
-How much cash does the company receive from or pay to the broker when it closes the futures contract in 2021?

Question

Use the following information to answer bellow questions 
Continue with the information used for questions . Thirty days after year-end, it is now 2021 and the market value of the inventory is $785,000. The company closes the futures contract and sells the inventory on the spot market for $785,000.
-How much cash does the company receive from or pay to the broker when it closes the futures contract in 2021?

Quizplus · Accepted Answer

$800,000 - $785,000 = $15,000

Use the Following Information to Answer Bellow Questions